Brazil plans levies on US tech firms after Trump steel tariffs, report says
Brazil's government is planning to impose taxes on US tech companies if President Donald Trump goes ahead with his plans to introduce a 25 per cent tariff on all steel imports into the US, newspaper Folha de S.Paulo reported on Monday.
The South American country is one of the largest sources of US steel imports as well as a top market for many big tech companies.
According to the report, which cites an unnamed Brazilian authority, firms facing potential Brazilian levies include Amazon, Meta Platforms' Facebook and Instagram, and Alphabet-owned Google.
Brazil's government did not immediately respond to requests for comment.
A finance ministry official in 2024 had already floated the idea of a potential tax on big tech companies in order to meet fiscal targets in case there was a shortfall in government revenue this year.
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